On Sunday, Chronicle business columnist Kathleen Pender wrote about California's new mortgage assistance program for unemployed homeowners. The program, according to Pender, will provide unemployed homeowners who qualify with up to $18,000 over six months. Pender also published an update Monday, answering questions about the program from her readers.
If you think you may qualify, the California Housing Finance Agency is now taking applications and has launched a web site called Keep Your Home California. Check it out to see eligibility requirements and frequently asked questions.
According to Pender, "four of the nation's largest mortgage servicers - Chase, GMAC, Bank of America and Wells Fargo - are now participating. CitiMortgage still has not signed up but intends to, a spokesman (said) last week." So if your mortgage is held by one of those companies, you may be eligible.